Job Destroying Corporate Greed

Pfizer lays off 1100 while recording record profits. Photo: AP

A recent New York Times article revealed the fact that many large corporations are experiencing record profits that they are not willing to reinvest in ways that benefit the nation. Instead, they are sitting on huge piles of cash or are buying back more company stocks. The rationale is they don’t think the market is optimal for expanding their business. Pfizer, for example just laid off 1100 workers to save money while,